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US stocks close higher on energy, tech gains

New York, Nov 5


Gains in energy and technology stocks helped Wall Street's three main indexes close higher.

The Dow Jones Industrial Average rose 114.75 points, or 0.42 per cent, to 27,462.11 on Monday. The S&P 500 rallied 11.36 points, or 0.37 per cent, to 3,078.27. The Nasdaq Composite Index was up 46.80 points, or 0.56 per cent, to 8,433.20, Xinhua reported.

Seven of the 11 primary S&P 500 sectors traded higher around market close, with the energy sector up 3.15 per cent, leading the winners.

The majority of the 30 blue-chip stocks in the Dow extended gains around the closing bell, with shares of Chevron and Walgreens Boots Alliance up nearly 4.61 per cent and 3.96 per cent, respectively, leading the gainers.

Shares of widely-watched trade sensitive 3M and Intel also advanced over 2.83 per cent and around 1.95 per cent, respectively.

Shares of Under Armor slumped 18.92 per cent, after the athletic apparel brand slashed its full-year revenue guidance.

On the economic front, US factory goods orders retreated 0.6 per cent in September, following an 0.1-per cent drop in August, the Census Bureau said Monday.

The reading came worse than an estimated 0.5-per cent fall by economists polled by Reuters and an expected 0.4-per cent decrease by a MarketWatch survey.

Wall Street had a massive rally on Friday with the 30-stock index closing up 301.13 points to 27,347.36, fueled by better-than-anticipated jobs data.

US employers added 128,000 jobs in October, the US Bureau of Labor Statistics reported on Friday. The reading topped the 75,000 forecast of economists surveyed by MarketWatch.